EU, India to revive stalled negotiations

The EU and India will agree to relaunch free-trade talks stalled since 2013 at a virtual summit on Saturday, according to a draft statement, as concerns about China’s rise bring Brussels and New Delhi closer.

The statement would bind together two of the world’s biggest economies in an alliance seen as a counter to China’s power. If approved, the EU and India will say: “We agreed to resume negotiations for a balanced, ambitious, comprehensive and mutually beneficial trade agreement,” according to the statement. The draft said that leaders would also seek an investment protection agreement, and a third deal on so-called geographical indications.

A 2020 study by the European Parliament put the potential benefits of a trade deal with India for the EU at up to €8.5 billion ($10.2 billion),